topic I received a total of over $9000 in marketplace premium insurance. But I only have $4094 in wages. Will I have to pay back the marketplace premiums? in Get your taxes done using TurboTax

I received a total of over $9000 in marketplace premium insurance. But I only have $4094 in wages. Will I have to pay back the marketplace premiums?

MarjorieSearcy63 — Wed, 28 Jan 2026 07:07:37 GMT

Re: I received a total of over $9000 in marketplace premium insurance. But I only have $4094 in wages. Will I have to pay back the marketplace premiums?

DoninGA — Sat, 25 Jan 2025 21:16:46 GMT

Enter your W-2 and the Form 1095-A so that the Form 8962, Premium Tax Credit can be completed by the TurboTax program. Then you will know if you have taxes owed or a tax refund.

To enter, edit or delete your Form 1095-A -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Medical
On Affordable Care Act (Form 1095-A), click the start or update button

Or enter 1095-a in the Search box located in the upper right of the program screen. Click on Jump to 1095-a

Re: I received a total of over $9000 in marketplace premium insurance. But I only have $4094 in wages. Will I have to pay back the marketplace premiums?

xmasbaby0 — Sat, 25 Jan 2025 21:17:44 GMT

You must enter your income and you must enter the 1095A for the marketplace health insurance. We do not know what you told healthcare.gov your estimated income for 2024 would be, so we cannot say if you will have anything to pay back.

To enter your 1095A go to Federal>Deductions and Credits> Medical>Affordable Care Act (Form 1095A)

If you had health insurance from the marketplace, when you applied for the insurance, you gave healthcare.gov an estimate of how much income you would receive in 2024. They used that amount to calculate how much of the insurance premium would be covered by the tax credit and how much would be your amount to pay. So...you had some monthly amounts to pay, and the rest of the cost of having that insurance was paid by the government program.

If you ended up making a higher income than you told them you would receive, they re-calculate how much should have been paid by the program and how much should have been paid by you. And if your own share of the cost should have been more, they get it back on your income tax return.

If you actually had less income, you could even get some of the share you paid back on your tax return.

Re: I received a total of over $9000 in marketplace premium insurance. But I only have $4094 in w...

SharonD007 — Sat, 25 Jan 2025 21:19:14 GMT

It depends. You need to enter your income and your 1095-A. The 1095-A is used to complete your Premium Tax Credit Form 8962 and reconcile your Premium Tax Credit. You may have taken more premium tax credit in advance than you were qualified for based on your income, which is why you may owe taxes.

You can review The Health Insurance Marketplace and the TurboTax article What is Form 1095-A: Health Insurance Marketplace Statement for more information.

If you are unable to pay your balance due to the IRS, please review the TurboTax article Unable to Pay Your Tax Bill? Here’s What To Do.

For more information, review the TurboTax articles What is the Premium Tax Credit (PTC) and What is Tax Form 8962?

IRS article Premium Tax Credit: Claiming the Credit and Reconciling Advance Credit Payments